More Heavyweights Join The Stablecoin Race As Citibank, JP Morgan Consider Own Products
The post More Heavyweights Join The Stablecoin Race As Citibank, JP Morgan Consider Own Products appeared on BitcoinEthereumNews.com.
Key Insights: Citigroup is considering launching a stablecoin and entering the tokenized deposit space Other heavyweights like JPMorgan are also entering the sector despite previous skepticism Favorable new bills like the GENIUS Act are encouraging more and more banks to embrace stablecoins. The race among traditional finance giants to enter the stablecoin market is heating up. Citigroup, one of the largest banks in the United States, has confirmed that it is now looking into the possibility of issuing its stablecoin. This move sets the bank up alongside other major entities like JPMorgan Chase, who are taking steps to enter the digital asset space. Here is a closer look at what a Citibank entry would mean, and why Wall Street is suddenly so bullish on stablecoins. Citigroup Eyes Its Own Stablecoin and Tokenized Deposits Citigroup CEO Jane Fraser recently announced during an earnings call, that the bank is “looking at the issuance of a Citi stablecoin.” She also revealed that the bank is heavily focused on tokenized deposits. Think of tokenized deposits as blockchain-based representations of funds contained in regular bank accounts. 🚨 BREAKING: Citi unveils it’s stablecoin strategy. And it’s GENIUS (😁). Circle spent years fighting for regulatory clarity. Guess who benefits when the Genius Act passes? The banks. Here’s what most people missed: pic.twitter.com/VW4Zd9po7h — Simon Taylor (@sytaylor) July 16, 2025 However, Fraser didn’t stop there. She outlined even more plans that include reserve management services for stablecoins and custody solutions for cryptocurrencies. According to Fraser, this move is more and more in line with Citigroup’s long-term vision, and would be a “good opportunity” for the bank. A Stablecoin Market with Massive Growth Potential Citigroup’s bullishness on stablecoins isn’t new. Back in April, the bank’s research division released a report predicting that the global stablecoin market could reach…
Filed under: News - @ July 17, 2025 12:25 am